The largest U.S. bank, which often sets policies ultimately adopted by the broader financial industry, announced the change in a memo to staff Friday.

Wells Fargo is pushing its return-to-office plans back a month to early October, citing rising COVID-19 rates across the U.S.

In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.

KeyCorp paid out bonuses to investment bankers of as much as $25,000 in June, according to people familiar with the matter, joining other financial firms that have boosted pay to retain talent.

Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.

Citigroup attracted close to $15 billion in net new money across its Asia Pacific wealth management business in the first six months of 2021, as hundreds of new hires helped the lender mark one of its strongest half years on record for the unit.

Citigroup has gone back to requiring employees — regardless of their vaccination status — to don masks when they’re in the office, according to a person familiar with the matter.

The state's department of financial services is asking firms that it supervises to report information about the composition of their boards and senior leadership. It expects to publish aggregate findings in early 2022.

Okeatta Brown is leaving Wells Fargo to fill a new role that will cover the Japanese company's footprint across the Americas.